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Unitech looses half of its profit this quarter

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Sources reported at the www.propertykhazana.com says that Unitech Ltd. sees 55% fall in its condensed total profit for the 2nd quarter in 2009 to Rs. 180 Crores as land market slowdown harmed the auctions comprehensions on yearly basis. The total profit stood at Rs. 360 Crores in the year and the income from operations had almost split into two to Rs. 510 Crores in the 2nd quarter from Rs. 1,000 Crores in the similar span. Unitech Managing Director said to www.propertykhazana.com that, “The chronological growth in presentation was inspiring and it wished to keep the momentum to go ahead. In the quarter, the firm started ‘Uni Homes’ where the rates range Rs. 11-26 Lakhs across 6 cities.”
In the first half of FY 2009, the firm had lifted up the construction activity at different venture plots and at present it has about 65 ventures under-constructing. He also said that, “Supported by the burly feedback, the firm had planned to give same product in other cities, as the momentum in housing auctions was going on and there had optimistic development on leasing of IT space.” For further details on real estate market browse www.propertykhazana.com.
Source: NBTVLIVE

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